Want to Retain Your Employees AND Increase Productivity? Here’s The Answer

Updated: Nov 4

Portrait of successful female professional with her arms crossed by Jacob Lund Photography from NounProject.com

There are now more job openings than ever that are going unfilled. In the US, in September alone, there were more than double the usual average of job vacancies.

This is a big deal, and it looks like it’s not going to change any time soon. Companies are finding creative ways to incentivize applicants to sign on with their companies, including child care incentives, raffles, wellness programs and grants, and signing bonuses. We’re also seeing compensation increases, even among small business owners.

Yet the labour shortage endures.

In my recollection, there has never been a time like this where employees hold so much power on such a large scale. My, how things have changed.

We are in an unprecedented time—one in which we’ve seen that people really can be productive working from home, and one in which people truly can work anywhere for companies located anywhere else, so long as they have good wifi. These days, employees truly do have options—lots of them.

Recently, I was listening to my favourite podcast, Pivot, and Scott Galloway again offered one of his quotable quotes:

Consumers don’t want more choice. They want to be more confident in the choices presented.

Swap out the words “Consumers” for “Employees” and you might better understand what will make someone choose to take, or keep, a job with your company.